Volcan Investments Ltd, the holding company of global non-ferrous metals giant Vedanta Resources, has announced that it intends to buy up to £2 billion ($2.45 billion) worth of UK-based mining giant Anglo American’s shares, with the purchase to be funded through a mandatory exchangeable bond.
"This is an attractive investment for our family trust. Anglo American is a great company with excellent assets and a strong board and management team who are executing a focused strategy to drive shareholder value. I am delighted to become a shareholder in Anglo American," stated Anil Agarwal, owner of both Volcan Investments and Vedanta Resources.